As former Peacocks chief executive Richard Kirk joins Poundstretcher, Retail Week takes a look at where the retailer is positioned versus its value competitors.
Main competition in the value sector:
| Retailer | No. of stores | Pretax profit | Locations |
|---|---|---|---|
| Poundstretcher | 400 | £1.4m | UK, Dubai |
| Poundland | 400 | £21.4m | UK, Ireland, Isle of Man |
| 99p Stores | 144 | £6.3m | UK, Ireland |
| Poundworld | 166 | £5.2m | UK, Ireland |
Poundstretcher’s recent moves:
- The retailer is opening its first overseas store in Dubai today and plans to open six in the Middle East.
- Poundstretcher aims to open an additional 100 UK stores by March 2013, with a view to a 900 store portfolio over the next six years.
- In February it bought 18 Ugo stores and is converting them to Poundstretcher.
- It closed its transactional website less than two years after launch, casting doubt on whether value retailers can successfully offer a transactional website because of the costs.
- Poundstretcher made its first profit in six years in the year to March 2011.
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